International trade within European nations has benefited greatly from the establishment of the European Union. The development of the EU has rarely been consistent and often been contentious, but the result is a market area that is now the single largest in the world. In global trade, the EU is the world’s biggest exporter of manufactured goods and services, as well as the largest importer for more than 100 countries. The borders may still exist between the 28 nations that comprise the EU, but the union has made it much easier for goods, services and capital to move freely between consumers and investors. Free trade was, in fact, among the EU’s founding principles. What began with six countries in the 1950s, as a new organization formed from the European Coal and Steel Community and the European Economic Community, has evolved and expanded over subsequent decades through the addition of new member states and institutions. The EU was formally established under its current name in 1993, and in 2002 the Euro was established (amidst some controversy and member discontent) as the union’s primary legal tender. The EU also has its own parliament, central bank and court of justice. The Prominence of EU Trade EU trade is conducted under the rules established by the World Trade Organization. According to European Commission statistics, more than 16 percent of the world’s imports and exports are traded within the European Union. Free trade agreements have expanded the union’s worldwide network, generating additional growth, jobs and markets. Serving some 500 million consumers, the EU is the largest economy and the largest trading block in the world, and is likely to remain so through its open markets, secure legal investment framework, and low import tariffs.
Ashdod Port to Complete Works of Over One-Billion-Shekel Platform 21
Ashdod Port has announced that the second section of its operational project to upgrade Platform 21 is almost complete. The project… Read More
New Distribution Center Opens at UK’s DP World London Gateway
DP World London Gateway recently celebrated the official opening of the first distribution center at what is set to become… Read More
Private Investors Want Bigger Role in European Ports
Europe’s private port terminal operators want more involvement in decision making regarding the development of port projects in the EU…. Read More
European Shippers’ Council Supports TNT-FedEx Merger
A few years ago the European Shippers’ Council strongly opposed the merger between UPS and TNT. Its members heavily complained… Read More
Six U.S. Film Studios Charged With EU Anti-Trust Violation
Six major U.S. film studios are being targeted by the European Union in an anti-trust case charging that they’ve conspired… Read More
European Commission Opens Two Antitrust Investigations Against Qualcomm
The European Commission has opened two formal antitrust investigations into possible abusive behavior by Qualcomm in the field of baseband… Read More
Brazil Summit Could Push Mercosur-EU FTA
Talks beginning tomorrow in the Brazilian capital of Brasilia will tell whether the South American trading bloc Mercosur will be… Read More
CaroTrans Restarts Los Angeles-Rotterdam Service
Non-vessel operating common carrier (NVOCC) and ocean freight consolidator CaroTrans has resumed its direct, all-water Rotterdam to Los Angeles import… Read More
WTO Lauds EU’s Trading Transparency
A report from the World Trade Organization released earlier this month emphasized the European Union’s role in global trade. The… Read More
DHL and KTZE to Enhance China-Kazakhstan Rail Freight Links
DHL Global Forwarding signed a memorandum of understanding with Kazakhstan Temir Zholy Express (KTZE) late last month to develop greater… Read More
U.S. Eateries Plan Major Central European Expansion
Two of the largest restaurant chains in the U.S. are planning to expand into the Central European market with openings… Read More
EU Rules on Reporting Shipborne CO2 Emissions Now in Effect
A European Union regulation mandating that ship owners report CO2 emissions of vessels sailing to and from European ports came… Read More
« Previous 1 … 40 41 42 43 Next »